Yahoo Finance Why Coupang, Inc. (CPNG) Outpaced the Stock Market Today
The latest trading session saw Coupang, Inc. (CPNG) ending at $22.50, denoting a +1.31% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.91%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 1.51%.
Shares of the company have appreciated by 21.43% over the course of the past month, outperforming the Retail-Wholesale sector's loss of 4.03% and the S&P 500's loss of 4.2%.
Investors will be eagerly watching for the performance of Coupang, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 7, 2024. The company is forecasted to report an EPS of $0.06, showcasing a 20% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.64 billion, up 14.52% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.34 per share and a revenue of $28.51 billion, signifying shifts of +30.77% and +16.94%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Coupang, Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 17.24% rise in the Zacks Consensus EPS estimate. Coupang, Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Coupang, Inc. is presently being traded at a Forward P/E ratio of 65.32. This represents a premium compared to its industry's average Forward P/E of 19.4.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Coupang, Inc. (CPNG) : Free Stock Analysis Report
